Tips for Stroke Survivors Applying for Life Insurance in Canada

Strokes are one of the most common critical illnesses, with more than 89,000 Canadians experiencing a stroke each year and over 400,000 Canadians living with the effects of stroke as of 2017. Whether you’re at risk of having a stroke, or have had one in the past, it’s important to know what to expect from life insurance companies when you apply.

In this article:

• What is a stroke?
• Can you get life insurance after a stroke?
• What are the different types of life insurance policies available to stroke survivors?
• How important is the length of time since my stroke when applying for life insurance?
• What factors affect my life insurance rate as a stroke survivor?
• Questions to expect when applying for life insurance as a stroke survivor
• What life insurance should I consider if I’m at risk of a stroke?
• What if I’m declined for having a stroke?
• Common misconceptions about life insurance for stroke survivors
• Frequently Asked Questions (FAQs) about life insurance and strokes

What is a Stroke?

A stroke occurs when blood flow to any portion of the brain has been obstructed or blocked, which deprives brain cells of oxygen and nutrients and causes those brain cells to die. The brain controls many functions, so when parts of the brain die, the results can be permanent or deadly. The same blood flow problems can occur without causing this permanent damage, and is known as a transient ischemic attack (TIA) or mini stroke.

There are three main types of strokes that refer to how the blood blow was obstructed: 

Ischemic strokes

This type of stroke is caused by blood clots in an artery

Hemorrhagic strokes

This type of stroke is caused when a blood vessel ruptures and blood accumulates in the tissue around the rupture.

Strokes can happen to someone at any age, however it is much more common in people over the age of 60. At younger ages, strokes can be attributed to stressful/hectic lifestyles, childhood obesity that carries into adulthood. Other factors that can contribute to strokes are heart problems, cardiovascular disorders, diabetes and high blood pressure, as well as excessive drinking and smoking.

Atherosclerosis strokes

This type of stroke is caused by fat and cholesterol buildup that narrows arteries in the brain.

 When any of these types of stroke occurs and causes permanent damage, it is known as a full stroke, or Cerebrovascular Accident (CVA). If there is no permanent damage then, the individual has experienced what is known as a transient ischemic attack (TIA) or mini stroke.

Strokes can happen to anyone at any age, however it is much more common in people above the age of 60. At younger ages, strokes can be attributed to stressful/hectic lifestyles, and childhood obesity that carries into adulthood. Other factors that can contribute to strokes are heart problems, cardiovascular disorders, diabetes and high blood pressure, as well as excessive drinking and smoking.

You’re more at risk of stroke if you:

• Are age 55 or older
• Have a family history of stroke
• Have High Blood Pressure or Cholesterol
• Have Diabetes
• Smoke or have smoked cigarettes or other tobacco products
• Have a form of artery or Heart Disease
• Are obese

There are several early signs of stroke, including:

• Dizziness
• Weakness
• Slurred speech
• Paralysis in the face, leg or arm
• Confusion
• Sudden vision problems
• A loss of balance

If you see or are experiencing any of these signs, you should get help immediately as an early diagnosis will help to reduce any potential damage and decrease the severity of complications from after a stroke.

Common complications from strokes include:

• Paralysis of one side of the body
• Speech/language impairments
• Vision problems
• Slow, cautious behavior
• Quick, inquisitive behavior
• Memory loss

Some stroke survivors may also suffer from seizures, muscle stiffness, and chronic fatigue.

Can you get life insurance after a stroke?

A common question people will ask is: “Can I get life insurance if I’ve had a stroke?”

Although it will be more difficult to get approved for life insurance after having a stroke, it is still possible. Strokes are considered a serious medical event with several health impairments due to complications, so underwriters will be more careful during the underwriting process. As a result, your options for traditional life insurance (fully underwritten life insurance) will be more limited the more recent your stroke is, and if you had a full stroke. If you had a mini stroke (TIA), you’ll be able to get coverage sooner than if you had a full (major/CVA) stroke.

What are the different types of life insurance policies available to stroke survivors?

No medical life insurance or guaranteed life insurance are two options for life insurance if you are looking for coverage soon after you’ve had a stroke, because they don’t require any medical exams or questions. These life insurance products are designed to provide quick coverage for those who have difficulty getting approved for regular insurance for any reason, including health conditions such as a stroke. Note that these products tend to have higher premiums, smaller issue coverage, and may have a deferred policy, where if the insured dies in the first 24 months of a policy, the full death benefit will not be paid out.

If you’re looking for life insurance 2-3 years after your stroke, simplified life insurance is an option as well. Many simplified issue carriers such as Canada Protection Plan offer immediate coverage to stroke victims after two or three years. Note that looking at simplified issue options before applying for traditional life insurance will prevent you from being disqualified for a simplified issue plan, in the case that you are declined from traditional insurance first.

How important is the length of time since my stroke when applying for life insurance?

As mentioned, the time since your stroke is an important factor insurers consider when reviewing your application. This is because 1 in 4 stroke survivors will have another stroke sometime in their lifetime, and the chances of having a second stroke in the first year are 15 times higher. Some insurers will decline you if you’ve had a stroke within the past year (12 months), and many will only accept stroke survivors after 2-3 years.

What factors affect my life insurance rate as a stroke survivor?

The amount of strokes you’ve had, as well as the duration since your last one, will affect your ability to be approved for life insurance. Some insurers will decline you if you’ve had multiple strokes. Furthermore, as a stroke survivor, the younger you are, the higher your premiums will be. The type of stroke you had will also make a difference in your premiums: you will have higher premiums if you had a full stroke (CVA) compared to a mini stroke (TIA).

Questions to expect when applying for life insurance as a stroke survivor?

Here are a few questions you can expect insurers to ask you about when you’re applying for life insurance after experiencing a stroke:

• What studies were done? (EKG, MRI, CT Scan, Carotid Ultrasound, etc)
• Describe symptoms at the time of stroke
• For CVA strokes, was it an ischemic stroke, hemorrhagic stroke, or atherosclerosis stroke?
• Did symptoms linger after the stroke? Which ones?
• Any family history of strokes?
• Medications you are taking
• Any diagnosis of hypertension, diabetes, coronary artery disease (CVD), or peripheral vascular disease (PVD)?
• Previous or current tobacco usage

What life insurance should I consider if I’m at risk of a stroke?

If you have a history of strokes in your family, or you fall into one of the categories that makes you at risk of a stroke, there are several life insurance options for you. Critical Illness insurance provides support for you when you are diagnosed with a critical illness while you are insured, meaning if you have not experienced a stroke yet but are worried that you might in the future, this insurance will still provide a benefit. Many term life insurance and permanent life insurance products from several carriers offer critical illness riders to their products to help further secure you as well, if critical illness insurance is not your main priority for insurance.

What if I’m declined for having a stroke?

If you are declined, it is best to apply for guaranteed issue or no medical life insurance. These forms of life insurance do not require a medical exam and only ask for a limited amount of information about your medical history.

Common misconceptions about life insurance for stroke survivors

1. Myth: Stroke survivors are not eligible for life insurance: While it may be more difficult to acquire coverage, there are insurance companies that specialize in policies for stroke survivors. 
2. Myth: Life insurance for stroke survivors is prohibitively expensive: While life insurance premiums for stroke survivors may be higher than those without a history of stroke, this does render all coverage unaffordable. With our team, we will help you navigate reasonably priced protection that matches your budget by exploring different providers across Canada.
3. Myth: Pre-existing conditions do not qualify for coverage: Insurance companies that provide coverage for stroke survivors are aware of the specific circumstances and dangers that come with this disease. They create policies that are tailored to the specific needs of stroke survivors, providing comprehensive coverage that includes pre-existing conditions.
4. Myth: The underwriting procedure is overly complex: While underwriting for stroke survivors may be more difficult, it is not insurmountable. You can successfully navigate the underwriting process by giving accurate and complete information about your medical history, engaging with healthcare providers, and seeking expert counsel with one of our advisors.

Frequently Asked Questions (FAQs) about life insurance and strokes

Get the protection you need

Whether you’re at risk of stroke, or have experienced a stroke in the past, there’s a life insurance product or package for your situation. Navigating the world of life insurance can be overwhelming, especially for stroke survivors. Fortunately, there are reliable resources and support available to help you through this process. Working with one of our life insurance advisors will help you build the right life insurance plan and package for your needs.

At Protect Your Wealth, we work with and compare policies and quotes from the best life insurance companies in Canada to ensure the best solution for you and your needs. We provide expert life insurance solutions, including no medical life insurance, critical illness insurance, term life insurance, and permanent life insurance to build the best package to give you the protection you need.

Contact Protect Your Wealth or call us at 1-877-654-6119 to talk to an advisor today! We’re proudly based out of Hamilton, and service clients anywhere in Ontario, British Columbia, and Alberta, including areas such as London, Oakville, Vancouver, Calgary, Edmonton, and Victoria.